Using [ref] to automatically insert references

I found a very nice feature while making my WordPress blog that I would like to see implemented into Microsoft Word documents. When I want to insert a reference all I have to do is surround it by [ref] and [/ref] and the reference is automatically added
at the end of my post.

Obviously this would require some sort of "Show/Hide" function so that you could see your reference. But I think this method is a lot more user friendly than the current methods used in Word.

I would think that the functionality you are hinting at already exists in Word in a slightly different form: fields. More specifically the footnote/endnote functionality which is built into Word through the use of bookmarks and references.